Companies@UA: База компаний Украины

Kyiv, July 17 (Interfax-Ukraine) – CJSC Alfa-Bank's three-year $250 million eurobonds, which matures in August 2011 and has a 12% annual interest rate, will be swapped for new U.S. dollar denominated eurobonds falling due in 2012, with a 13% annual interest rate and with partial repayment in cash during the swap.

The decision was made by the holders of the eurobonds, Alfa-Bank told Interfax-Ukraine on Friday.

The new eurobonds will be issued through Ukraine Issuance plc on July 30, 2009. They will be repaid in equal parts, starting from the second year of circulation, and the coupon on them will be paid on a quarterly basis. It is expected that they will be in circulation on the Irish Stock Exchange.

According to the bank, the new bonds falling due on July 30, 2012, will be issued to the tune of $185.404 million.

Alfa-Bank also said the primary term when holders of the bank's eurobonds maturing in 2009 and 2010 (worth $345 million and $450 million at 9.75% and 9.25% respectively) could accept a swap offer expired on July 14, 2009.

Following voting by the said date, over 80% of the bondholders of each issue decided to take part in the swap, the bank said.

Taking this into consideration, Alfa-Bank forecasts the successful completion of the swap of 2009/2010 eurobonds, whose holders will meet on July 23.